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Nov 30, 2012
11/12
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, not just tax rates, capital gains, dividends, et cetera. also about $50 billion in new spending next year. the white house down plays that by saying look, this is just stuff the president put out there previously in the american jobs. it's not so grand new stimulus plan but none the less speaker boehner is basically complaining that while there is a lot about the taxes, a lot about some new spending is he not seeing a lot of detail on spending cuts. take a listen. >> i'm disappointed. in where we are and disappointed in what's happened over the last couple of weeks. going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> now, the white house thinks republicans have overdone the outrage today. they say the real problem republicans have is they don't want to raise taxes on the rich. so basically we are still deadlocked tonight, shep. >> shepard: vice president biden did his part for the economy today. he went shopping? >> yeah a new cosco here
, not just tax rates, capital gains, dividends, et cetera. also about $50 billion in new spending next year. the white house down plays that by saying look, this is just stuff the president put out there previously in the american jobs. it's not so grand new stimulus plan but none the less speaker boehner is basically complaining that while there is a lot about the taxes, a lot about some new spending is he not seeing a lot of detail on spending cuts. take a listen. >> i'm disappointed....
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Dec 5, 2012
12/12
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that's not a mandate to raise taxes. it's a mandate to work together. >> mandate to work together which means they may not go on their break which is expected. i heard the speaker tell you that he's going to tell you as well. quickly, dana, he's going to stay regardless of whether they go on break, right? >> reporter: right. and the question was the house of representatives is going to finish their work this week in about 45 minutes and it's only wednesday. >> right. >> reporter: they are going to go home. they are not going to be in session on thursday or friday. i asked the speaker whether that is got optics for the house to leave town while the fiscal cliff is so close in front of us and that is the answer, that he will be in town, ready, willing, and able to talk to the president at any time. so that was really the issue. the house republican leadership, i tell you, they say they simply don't have any legislation to put on the floor. that's why they are play sending their members home. they are hoping to get the mess
that's not a mandate to raise taxes. it's a mandate to work together. >> mandate to work together which means they may not go on their break which is expected. i heard the speaker tell you that he's going to tell you as well. quickly, dana, he's going to stay regardless of whether they go on break, right? >> reporter: right. and the question was the house of representatives is going to finish their work this week in about 45 minutes and it's only wednesday. >> right. >>...
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paid for with your tax dollars. the zombies look scary, but organizers say the skit was solely to add levity to an otherwise serious meeting on protecting the homeland. senator tom coburn says it's just another example of more than $7 billion in questionable homeland security spending every year. >> wow. wasted. >> reporter: in a new report, coburn cites example after example, including nearly $30,000 for an underwater robot in columbus, ohio, the $69,000 hovercraft for indianapolis. and this, the sleepy town of keene, new hampshire, citing the need to secure its annual pumpkin festival was awarded a grant to buy a bearcat armored vehicle. price tag? $240,000. the department of homeland security said the grants make our communities safer places to live. coburn said there is just too much waste. examples are tip of the iceberg? >> sure, all over the government everywhere you look. >> reporter: what? >> waste, incompetence and stupidity. >> reporter: can you ever be too prepared for the zombie apocalypse? jonathan kar
paid for with your tax dollars. the zombies look scary, but organizers say the skit was solely to add levity to an otherwise serious meeting on protecting the homeland. senator tom coburn says it's just another example of more than $7 billion in questionable homeland security spending every year. >> wow. wasted. >> reporter: in a new report, coburn cites example after example, including nearly $30,000 for an underwater robot in columbus, ohio, the $69,000 hovercraft for...
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the program much appreciated thanks being with this guy thought because he director of the american tax force thanks for having alice time. senior israeli foreign official says the states last year of support convinced the continuity the back the palestinians or abstain and one of the country said to withhold it say is germany which it was reportedly mulling over a vote against palestine dr rainer the free democratic party told us only talks can lead to a lasting peace. our ultimate political goal is definitely is two state solution and i think everybody in the world knows that germany has a special relationship to israel everybody in the world knows the security of israel is of major concern to us and just having lived through a period of tremendous. bad events in israel and gaza we could see that is that that is that israel has a size of a job instead of has to be attacked by war more than one thousand five hundred rockets we can understand security concerns that's why we have a special relationship and that's why we are very concerned about the upcoming process with our decision to a
the program much appreciated thanks being with this guy thought because he director of the american tax force thanks for having alice time. senior israeli foreign official says the states last year of support convinced the continuity the back the palestinians or abstain and one of the country said to withhold it say is germany which it was reportedly mulling over a vote against palestine dr rainer the free democratic party told us only talks can lead to a lasting peace. our ultimate political...
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Dec 6, 2012
12/12
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no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president enforces them. if they don't go along with the law that the president wants it won't become the law. then we won't let him borrow more and he can't spend more than what the treasury collects. it's forced to reduce spen spending. that is the only way to get the house in order. >> over the cliff. >> over the cliff. >> juan? >> i hope not. i don't think it's good for most of america. it could be damage for economy struggling to recover. takes us further down the road for what i think is the news of the day. argument over the debt ceiling today. that is one point of the republican lench in the dole. some machiavellian misstep made. he wanted the democrats to
no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president enforces them. if they don't go along with the law that the president wants it won't become the law. then we won't let him borrow...
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Nov 29, 2012
11/12
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setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be
setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal...
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Nov 30, 2012
11/12
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taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most economists would agree that there is often more advantages in capping deductions than in just going for the rates, but i think there's a real political advantage for democrats looking ahead to battle after battle that we'll face down the road in getting republicans to cross that red line. it's sort of a scout, you might say. >> thank you both very much. >>> the united states opposed today's u.n. vote on the palestinian observer state. senator bob menendez saying it could inflame passions throughout the region. welcome to you, senator. >> good to be with you. >> explain to me why you feel so strongly that the palestinians shouldn't have been granted today this nonmember observer state status. >> well, what we announ
taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most economists would agree that there is often more advantages in capping deductions than in just going for the rates, but i think there's a real political advantage for democrats...
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Nov 29, 2012
11/12
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FBC
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it depends on what the tax rates are. the 4% kicker or 04 percent cpi increase in the cost of living over the annuity. you have to look at that in the context of the tax opporunity. you have to be careful. gerri: they always have problems with their family. your advice which i cannot even imagine, learn to say no the families and friends. do you live alone, have no do you live alone, have no family and friends? where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anotherson more investors are saying... [ all ] i'm with scottrade. ll, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sor about that. [ale announcer ] break from the holiday stress. fedex office. are you loing for a plan thateally meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medica
it depends on what the tax rates are. the 4% kicker or 04 percent cpi increase in the cost of living over the annuity. you have to look at that in the context of the tax opporunity. you have to be careful. gerri: they always have problems with their family. your advice which i cannot even imagine, learn to say no the families and friends. do you live alone, have no do you live alone, have no family and friends? where our dedicated support teams help you know more so your money can do more. [...
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he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in spending cuts. now the present is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spding. gerri: to that point. want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get latr. here is what dan pfeiffer said. it promises to lower rates for the wealthy and stickhe middle-claas with the bill. we could do it pinocchio test. is that true or false? >> completely false. they want to keeall the race the same. now lower than for anybody. and maintaining the status quo on rates. the deductns are actually targeted for upper-ince people. the dmocrats, the white house, some left wing groups that on behalff the white house imagined how they would design the republican plan and then they attack it. dishonest during the ampaign, and the president is still running a political capaign. he's been all o
he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in spending cuts. now the present is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spding. gerri: to that point. want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get latr. here is what dan...
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Nov 30, 2012
11/12
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FBC
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that includes a 3.8% tax for obamacare. taxes go on and on. so what are advisors telling their clients? the answer is maybe not so much. rick adelman joins me now. this is a letter you wrote your clients. when i thought was interesting about it is that you don't get a ton of direct advice here. at the end of the day come you don't know what's going to happen. >> that's right, i'm an advisor who can devise because we don't know what the devices would be yet. we have a month before the end of the year. we knew it was going to happen as of january 1, we would be able to say definitively let's capture capital gains and save ourselves money. order, it's definitely not necessary. for the moment, we are saying that we are preparing. we are examining every client accounts so that we are ready to make a move if needed. let's not pull the trigger to set. gerri: one of the things people are concerned about, dividends and dividend paying stocks. wifi on? by southern? what you make of that debate? that is obamacare and that is the law and it is not expirin
that includes a 3.8% tax for obamacare. taxes go on and on. so what are advisors telling their clients? the answer is maybe not so much. rick adelman joins me now. this is a letter you wrote your clients. when i thought was interesting about it is that you don't get a ton of direct advice here. at the end of the day come you don't know what's going to happen. >> that's right, i'm an advisor who can devise because we don't know what the devices would be yet. we have a month before the end...
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Dec 4, 2012
12/12
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KQED
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republicans sent the president a counter-offer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. >> tom: i'm tom hudson. auto sales speed up in november, with buyers taking advantage of ultra-cheap financing to ditch
republicans sent the president a counter-offer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. >> tom: i'm tom hudson. auto sales speed up in november, with buyers taking advantage of ultra-cheap financing to ditch
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Dec 1, 2012
12/12
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democrats only want to raise taxes on the top 2% and extend the bush tax cuts for everyone else. what they might agree on, cutting deductions. the middle class' most cherished tax break could be in the crosshairs of the fiscal cliff negotiations. we're talking about the mortgage interest deduction. it's been around for 99 years, but it's costing the government $80 billion this year and will reach $100 billion by 2014 making it the third largest tax expenditure according to the congressional research service. who is it really helping in the most recent irs tax data show 41 million people claim this deduction on their 2010 taxes, but the tax policy center points out it tends to benefit upper middle class families the most. for those with annual incomes of less than $40,000 a year, the average tax savings is just 91 bucks. for the people earning $250,000 a year, the annual tax savings runs about $5,500, and critics say it's not really helping to boost homeownership. going to talk to one of them in a moment. the homeownership rate in the u.s. is now about 65%. it was up near 70% duri
democrats only want to raise taxes on the top 2% and extend the bush tax cuts for everyone else. what they might agree on, cutting deductions. the middle class' most cherished tax break could be in the crosshairs of the fiscal cliff negotiations. we're talking about the mortgage interest deduction. it's been around for 99 years, but it's costing the government $80 billion this year and will reach $100 billion by 2014 making it the third largest tax expenditure according to the congressional...
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Dec 7, 2012
12/12
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you go lady and raise the taxes. people if the republican party can tut go for that although they will get blamed for the disaster and the train wreck this is coming. >>neil: i tell people to look at coverage and say, did you wonder why republicans are obstinate wanting to hike taxes more, but, democrats are not when they don't want to cut spending? i say you go with the republicans on the tax thing it should be more and should be raised or should be this, fine, then apply the same standard to democrats when it comes to spend cuts. >>guest: one thing the republicans need to do a boater job of is be specific about what they offered and specific about what the democrats have not offered. the other thing i don't think they have yet communicated is that what will this do? president obama has made this such a point of the campaign and now the presidency, that we have to go after the 2 percent. the question is nut to answer him with an answer but 18 it with a question. what will that gain us? can we run the government for
you go lady and raise the taxes. people if the republican party can tut go for that although they will get blamed for the disaster and the train wreck this is coming. >>neil: i tell people to look at coverage and say, did you wonder why republicans are obstinate wanting to hike taxes more, but, democrats are not when they don't want to cut spending? i say you go with the republicans on the tax thing it should be more and should be raised or should be this, fine, then apply the same...
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Dec 6, 2012
12/12
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news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one's. >> and this actually appears to be working. a new poll shows the president is running ahead of the boehner-led republican team. what about basketball you say? we go to charlotte last night, and the knicks treasury secretary, carmelo anthony, top paid and big star got hurt in this dive and had to leave the game. then the at the end it came down to this. >> looking for felton and finds smith. two seconds, one second. smith for the win. >> game over. no overtime. deal, end game, done. is this meaningless nba game in charlotte lead us to how the fiscal fiesta ends? we have a man
news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good...
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Nov 30, 2012
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tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and then when the economy nose dives he will have to own it. republicans are going to get blamed anyway. do you feel strong about either one of those? >> dana: not necessarily. i do think i see in "washington post," headline, obama offers plan for cliff. plan to be in quotes. the thing that amazes me and the media lets it happen. for eight years or longer now. i had to defend how many times people said on the left, including president obama when he was running for president the first time, the bush tax cuts only help the ri
tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and...
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Nov 29, 2012
11/12
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no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the deficit. >> as always, senator, you make your case very passionately. i want to play you a bit of sound from the white house senior adviser david plouffe in talking about how to resolve the fiscal cliff crisis. listen to this. >> we also need to engage in entitlement reform. medicare, medicaid carefully. these are cheap drivers of our deficit. we made progress with obama care. there's more we need to do. >> we need to engage and the white house is acknowledging this. do you not go along with the president? >> yes, sometimes i disagree with the president. >> yes, that is true. >> but if we are talking about making medicare more efficient, lowering the cost of prescription drugs to medicare, that's a reform along with their other reforms. >> how about this reform, raising the eligibility for medicare from 65 to 67 over several years? >> no. >> why not? >> why not? because there are working people out there w
no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the deficit. >> as always, senator, you make your case very passionately. i want to play you a bit of sound from the white house senior adviser david plouffe in talking about how to resolve the fiscal cliff crisis. listen to this. >> we also need to engage in entitlement reform. medicare, medicaid carefully. these are cheap drivers of our deficit. we made progress with obama care....
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Nov 29, 2012
11/12
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we are talking about reforming the tax code, raisinging tax rates. that's the only thing i say that i absolutely will not do. 258 members of congress, republicans all, have taken the pledge. only six are waffling. we're standing strong on that point. >> do you think that's a pledge with grover norquist, with your constituents? there are others saying they have room around the pledge. >> well, that's a great question you just asked me. is that a pledge to my constituents. absolutely. in 2002 -- and i was running in a tough primary and those folks back in marietta, georgia, said, phil, are you going to take the grover norquist, americans for tax reform pledge. i said, yes, i will take it. many would have voted for my opponent. that plenl, i honor that. it's a pledge to my constituents. absolutely. >> all right. you say your constituents don't want you to raise taxes on the rich. let me show you what an abc/washington post poll shows. 60% would support raising taxes on incomes over $250,000 per year. you wouldn't do that? >> i understand that their perc
we are talking about reforming the tax code, raisinging tax rates. that's the only thing i say that i absolutely will not do. 258 members of congress, republicans all, have taken the pledge. only six are waffling. we're standing strong on that point. >> do you think that's a pledge with grover norquist, with your constituents? there are others saying they have room around the pledge. >> well, that's a great question you just asked me. is that a pledge to my constituents. absolutely....
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Dec 6, 2012
12/12
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KPIX
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a voluntary tax on vintners covers the rest. angel calderon runs the centers. he says the 81-year-old priest created a model for farm worker housing. >> he was a saint because i don't know everybody else in this valley doing that much for the farm workers. >> reporter: father brenkle also cofounded a nonprofit that helped develop more than 900 affordable housing units. >> as i look back, i have a sense of peace and satisfaction. >> reporter: so for his tireless fight for farm worker housing this week's jefferson award in the bay area goes to father john brenkle. sharon chin, cbs 5. >> much deserved. you can nominate your local heroes for a jefferson award online at our website, cbssf.com. >>> with the prince by her side, the duchess of cambridge left a london hospital today after an eventful few days of medical tests, media coverage and one infamous prank call. monica villamizar has the latest. >> reporter: the duchess of cambridge smiled as she made her first public appearance since the royal family announced she is pregnant. she and her husband, prince willia
a voluntary tax on vintners covers the rest. angel calderon runs the centers. he says the 81-year-old priest created a model for farm worker housing. >> he was a saint because i don't know everybody else in this valley doing that much for the farm workers. >> reporter: father brenkle also cofounded a nonprofit that helped develop more than 900 affordable housing units. >> as i look back, i have a sense of peace and satisfaction. >> reporter: so for his tireless fight for...
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it is like a tax revolt. if washington does not act major league owners will be forced to shell out money. the ipad maybe number one but consumers have more options with a tablet. and just how wasteful has indeed york been? consumers and taxpayers aretomit squeezed. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. yeah, i'm kind of a big deal. [sigh] it feels good to help people save... with great discounts like safe driver, multicar, and multipolicy. 731, 732... you want my number, don't you? call 1-800-progressive right now. or visit progressive.com for an extra $50 online savings. thirsty? 'causi got a six-pack right here. oh, yeah... [voice shaking] you don't even have to wait for your
it is like a tax revolt. if washington does not act major league owners will be forced to shell out money. the ipad maybe number one but consumers have more options with a tablet. and just how wasteful has indeed york been? consumers and taxpayers aretomit squeezed. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. you know, from our 4,000 television...
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Dec 3, 2012
12/12
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tax rates. tax rates. tax rates, tax rates. like tourettes. that is all they want. >>neil: member the middle ground they rumored about last week, maybe not 39.6 percent the top rate, but mid-30's but regardless you think the rate will change. >>guest: i am pessimistic short run and long run. there is in reason why they should go up but i think they will. we need to just limit the growth of spending to 2.5 percent a year on average and the fight is about taxes going up so that spending can go up and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they
tax rates. tax rates. tax rates, tax rates. like tourettes. that is all they want. >>neil: member the middle ground they rumored about last week, maybe not 39.6 percent the top rate, but mid-30's but regardless you think the rate will change. >>guest: i am pessimistic short run and long run. there is in reason why they should go up but i think they will. we need to just limit the growth of spending to 2.5 percent a year on average and the fight is about taxes going up so that...
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legal marijuana sales could also generate washington $500 million a year in taxes and business. opponents worry legalization will lead to more people using drugs. >> this is not what you're going to pick up in a baggy at the corner. >> absolutely not. it's the complete opposite. >> reporter: jamen shively, a former microsoft executive, has plans for up-market marijuana shops. >> we're positioning premium marijuana, very similar to a fine cognac, a fine cigar, something to be safeord something to be consumed in moderation by responsible adults. >> reporter: new stores would be modeled after those in many states it for alcohol. by next month a similar law will go into effect in colorado where residents will be allowed to grow their own marijuana. but all those plans could go up in smoke because of federal law. the justice department said it's studying the situation here in washington but scott, want feds have already warned residents of this state, under federal law all marijuana use remains illegal. >> pelley: plenty of room for confusion. thanks very much john. a change may be c
legal marijuana sales could also generate washington $500 million a year in taxes and business. opponents worry legalization will lead to more people using drugs. >> this is not what you're going to pick up in a baggy at the corner. >> absolutely not. it's the complete opposite. >> reporter: jamen shively, a former microsoft executive, has plans for up-market marijuana shops. >> we're positioning premium marijuana, very similar to a fine cognac, a fine cigar, something...
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Nov 29, 2012
11/12
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we don't like to tax two or three times, which dividends or other taxes might be taxed. so too small. and there is a principle involved. >> steven ratner, is there a principle, or just bloody mindedness by republicans, led by grover norquist, we shall not pay anymore taxes ever? >> at some point, there are too many taxes, but we're a long away from that. let's just look at earned taxes, lower than they were under president clinton put in place ten years ago. and all president obama is saying let's go from 35% to the top earners, to 39.6%, same as it was under president clinton, the economy did well. it is more than just a drop in the bucket. just raising rates on people making over 250,000, would be a trillion deficit -- >> a trillion dollars, henry, is nothing to be sniffed at. some urged the party to extend the bush-era tax cuts, for the households that earn less than $250,000, to insure the taxes don't go up. who cares anyway? >> sure, there is a point in there. i might dispute the numbers. i would argue as the members of my party, i would argue that we have a spendin
we don't like to tax two or three times, which dividends or other taxes might be taxed. so too small. and there is a principle involved. >> steven ratner, is there a principle, or just bloody mindedness by republicans, led by grover norquist, we shall not pay anymore taxes ever? >> at some point, there are too many taxes, but we're a long away from that. let's just look at earned taxes, lower than they were under president clinton put in place ten years ago. and all president obama...
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he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone not too long ago. >> that's right, harris. we confirmed that there was a phone call between the two leaders this afternoon. no m
he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good...
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were people with untrained would be paying income taxes. liz: the question becomes, what else have you done right to get it at that level which is second only to north dakota? >> >> untrimmed i was just in china two weeks ago. we are prepared to do that. you have to create a tax competitive, job competitive, business friendly environment. the opportunities are with the private sector and we understand that here in nebraska. liz: have you prepared, not one, but two budgets. one taking into account we go over the cliff and the other if we do not go over the cliff. >> i really have not looked at it that way. i am preparing a budget for the next two-year cycle. we are prepared to adjust depending on what happens at the federal level. i do want to remain cautiously optimistic that they will find a deal. put america first. liz: i am glad that you do remain cautiously optimistic. nebraska is a very important state. you yourself have held it up at certain points worried about that. there is apparently, as i understand it, we are hearing from some p
were people with untrained would be paying income taxes. liz: the question becomes, what else have you done right to get it at that level which is second only to north dakota? >> >> untrimmed i was just in china two weeks ago. we are prepared to do that. you have to create a tax competitive, job competitive, business friendly environment. the opportunities are with the private sector and we understand that here in nebraska. liz: have you prepared, not one, but two budgets. one...
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he suggested that he wants to see taxes go up for the rich. middle class tax cuts get extended for the middle class and then we will back and deal with spending cuts next year. >> and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits it, to streamline our tax system. to do it in a balanced way. including asking the wealthiest americans to pay a little more. >> the problem with that strategy is that republic leaders are insisting that they don't want to take a framework for spending cuts down the road in exchange for tax changes now. they want it all done at the same time so that they can be sure that if taxes are going up on the rich, that in fact some of those spending cuts to bring down the debt will actually materialize. it might make it more likely to go of 00 cliff even though the president insisted today he thinks there will be a deal within weeks, shep. >> shepard: as for extending tax cuts for middle class americans it sounds like there is some agreement on that matter. >> it
he suggested that he wants to see taxes go up for the rich. middle class tax cuts get extended for the middle class and then we will back and deal with spending cuts next year. >> and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits it, to streamline our tax system. to do it in a balanced way. including asking the wealthiest americans to pay a little more. >> the problem with that strategy is that republic leaders are...
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we had the big tax breaks for wealthy americans from 2000 to 2008. what happened at the end of that period? jobs went down, the deficit went up. we also know, reverend al, from the nonpartisan congressional office, that those tax breaks for the very wealthy people have virtually no impact on jobs and economic growth and that the proposals the president has made, both the middle class tax extension, plus his small business tax cut, taken together do a lot more than you would get in terms of job growth from providing the folks at the very top with this bonus tax break. so you've got to look at the president's entire plan, both the investment in our infrastructure as well as middle class tax relief and small business tax relief and that is the jobs plan for the future and no matter what republicans say, the reality is that at the end of the day they are looking out for the folks at the very top. we know from our own history. >> yeah. >> that history is bankrupt. >> and these are things we need. if you look at what hurricane did to new york and new jerse
we had the big tax breaks for wealthy americans from 2000 to 2008. what happened at the end of that period? jobs went down, the deficit went up. we also know, reverend al, from the nonpartisan congressional office, that those tax breaks for the very wealthy people have virtually no impact on jobs and economic growth and that the proposals the president has made, both the middle class tax extension, plus his small business tax cut, taken together do a lot more than you would get in terms of job...
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i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal and we go off the cliff. >> we go off and stay off. >> it's $400 billion. we have a lot of things to do with regard to our debt ceiling, and my feeling is no one really believes the united states of america is going to default on its debt even if it lapses. we're dealing with different things. one is real and substantive and the other is psychological. >> i really disagree. >> i know you do. >> we could have a good discussion about this if we had more time. the idea that if the debt ceiling lapses, peter, that means that we can no longer borrow from credit markets and can't finance our debt. >> we're doing most of our borrowing rig
i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal...
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the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only benefit the rich. now he says that the republicans ar
the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social...
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credits and tax inclusions in a major tax reform package. the gang of six that i was a part of, still a part of, followed that recommendation. we think you ought to eliminate all of that. that will generate about $1.2 trillion in revenue. not new taxes. revenue. then you decide whether you're going to add the mortgage interest deduction, charitable deduction, other things back in there. so the question is, what do you do with that revenue that's been generated? we owe $16 trillion. i think that you got to pay part of that revenue toward that debt just like every single american that owns a home pays part of their monthly revenue toward their mortgage debt. it's exactly the same thing. the problem that grover and i have, he says if you do that, that's a tax increase, because the rest of it is going to go to lowering tax rates, and that's not 100% going to lowering tax rates. >> sean: if you're talking about $1.1 trillion or $1.2 trillion in revenue, that's raising taxes. people will pay more. when people pay more -- >> no. >> sean: they're no
credits and tax inclusions in a major tax reform package. the gang of six that i was a part of, still a part of, followed that recommendation. we think you ought to eliminate all of that. that will generate about $1.2 trillion in revenue. not new taxes. revenue. then you decide whether you're going to add the mortgage interest deduction, charitable deduction, other things back in there. so the question is, what do you do with that revenue that's been generated? we owe $16 trillion. i think that...
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we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work with the other side and how you can work with the other side. to make demands that are this far off of where we were starting from, seems to knot be really trying to move forward on this so it does lead one to wonder what he is trying to do. we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less wil
we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work...
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taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one, we are talking about federal taxation. if you want to have a argument with your county or city government, new york city and westchester county or long island go have it. >> you are not answering. >> but if you are talking about federal tax, right i'm saying to you i between between 35 and 39 is totally good. >> but that's not addressing it. wait a second. this is not a small issue. after somebody pace their federal, their state, their social security, their property, their car tax, their sales tax, after they are done giving the government their fair share, state, local, federal, what is fair? give me a
taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one,...
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you want to talk about paying taxes and your fair share? they're a tax-exempt 501c5 organization. where is ed asner's rage about their escaping and evading their fair share of taxes? i don't hear it. also, let's have a balance. if they're going to show this in the california classrooms, how about an eight-minute video narrated by clint eastwood or my favorite right thinking actor adam baldwin that exposes the truth about occupy and the teachers alliance? they have to make up this urinating image? well, you've got occupiers who have been pooping on police cars. show that to the school kids. >> sean: well said. michelle malkin. great points. thank you for being with us. >> you bet, take care. >>> >> sean: coming up next, liz cheney on the breaking news out of syria. the government stands ready to use sarin nerve gas on its own people. a senior firm confirmed this to fox news. >>> women in egypt are fearing for their lives as sex mobs are preying on the public. the situation is getting dispratt. where is the outrage and the support from the feminists who screamed about the so-called
you want to talk about paying taxes and your fair share? they're a tax-exempt 501c5 organization. where is ed asner's rage about their escaping and evading their fair share of taxes? i don't hear it. also, let's have a balance. if they're going to show this in the california classrooms, how about an eight-minute video narrated by clint eastwood or my favorite right thinking actor adam baldwin that exposes the truth about occupy and the teachers alliance? they have to make up this urinating...
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tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of sitting down with john boehner, running around pushing for a bill to increase -- extend just the middle class tax cuts which he knows republicans will never do. you can see it in the fact that 33 senate democrats signed this letter which says, quote, we will oppose including social security cuts for current or future pen fisheries in any -- beneficiaries at any time. that's signed by harry reid. senator durbin giving a speech saying no touching medicare or medicaid in any year end package. so, basically, the democratic positio
tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of...
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gerri: income tax. >> a payroll tax strictly. it's added to the medicare tax that's taken out, makes a small stop in the trust fund, and funds another program that the president likes. this is the problem. the president is not hoonest with us or the american people. he tells you he loves you and wants to take care of you, but the fact of the matter is, he's going to raise your taxes to a level that, in fact, it's going to kill economic activity in the country. how do we know? look what's happening. on your crawl on the television, dividends paid before december 31st, and why? that behavior's driven by changes in the tax code that are existing law. he's counting on people not paying attention to that. it's the holidays, that's right. they are preparing for christmas, but they have to be worried # about the tax code. gerri: a tax revolt. you'll get more of the same if december 31st passing and nobody does anything. i think everybody's right up to here with what's going on, and you are so nice to talk to us about it. really apprecia
gerri: income tax. >> a payroll tax strictly. it's added to the medicare tax that's taken out, makes a small stop in the trust fund, and funds another program that the president likes. this is the problem. the president is not hoonest with us or the american people. he tells you he loves you and wants to take care of you, but the fact of the matter is, he's going to raise your taxes to a level that, in fact, it's going to kill economic activity in the country. how do we know? look what's...
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there was a contrast of ideas over what we do with our tax code and how we reform our tax code. and at the even of the date president got millions more in the popular vote than romney because americans think by and large their wealthier neighbors and wealthier americans should be paying a fairer share. it's not fair when you have the wealthiest among us paying a lower effective tax rate. megyn: is the media -- the media has been focused on the tax hikes and whether president obama is going to get them and not focused on spending cuts. is that because the republicans and the president agree the middle class needs those tax cuts and should get them. the only thing they disagree on is whether the rich should also have tax cuts given to them. the left is say we agreet middle class should get the tax cuts. so let's give them to them. >> you are comment is largely right. the republicans have gone along in a bipartisan manner with the idea there has to be revenue. the speaker has put forward a framework in which he agrees there should be $800 billion of revenue on the table. the proble
there was a contrast of ideas over what we do with our tax code and how we reform our tax code. and at the even of the date president got millions more in the popular vote than romney because americans think by and large their wealthier neighbors and wealthier americans should be paying a fairer share. it's not fair when you have the wealthiest among us paying a lower effective tax rate. megyn: is the media -- the media has been focused on the tax hikes and whether president obama is going to...
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we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until the end of the year. but if the taxes go on, on capital gains and dividends, people will start to sell now to have the better, more preferential tax treatment than afterwards. we may see selling in first of the year. >> eric: long-term, think long-term. once we get past that. what will the effect be? what if taxes on dividends go up? >> this is incredible disincentive. especially on the capital gains. to take the risk of investing. when you say long-term, long-term, if you don't need the money you invest in stock market. if you need it in the next five years don't go near
we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until...
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i can do the rest of my taxes for me. >> greg: adorable. here is where it gets delightful. >> schools, public safety, the roads, parks. libraries. public transportation. all in decline. rich people didn't care. they said get what they deserve. ordinary people wonder why rich people needed so much money. the 1% said don't worry. this is good for you, too! because it will trickle down from us to you. >> greg: ah, yes. is there any better lesson for your kids than saying the rich pee on the poor? you know it's bad when shanghai has more in common with traditional values than california does. we have in-house training film for occupy wall street, guaranteeing another generation of the angry deserved class warriors in ten years. what the video shows is how bitter and ugly progressives can be. for a moment i thought it was a parody but it's real. it's accurate depiction of the envy-driven left than you'll see and brought to you from california teachers. the people who want to put the grimy greedy paws all over your kids' minds among other things.
i can do the rest of my taxes for me. >> greg: adorable. here is where it gets delightful. >> schools, public safety, the roads, parks. libraries. public transportation. all in decline. rich people didn't care. they said get what they deserve. ordinary people wonder why rich people needed so much money. the 1% said don't worry. this is good for you, too! because it will trickle down from us to you. >> greg: ah, yes. is there any better lesson for your kids than saying the rich...
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he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this debt. we keep spending and spending and raising our debt by $6 trillion every obama term. that's what catastrophic. the republicans need to stick to the boehner rule. a dollar of spending cuts for every dollar in spending increases. why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right now. if they pull what mark is saying, you are going to
he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this...
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instead of raising tax rates, we can produce a similar amount of revenue reforming the tax code to close loopholes and lower tax rates. >> no, no, no. republicans are not getting the mitt romney tax proposal. time to move on speaker boehner. republicans are furious about the white house proposal. mitch mcconnell told the weekly standard he burst into laughter when he received the deal. the new second ranking republican in the senate john cornyn also disparaged the deal. >> that's a crazy idea. i'm amazed that secretary geithner had the courage to float that yesterday. hence the laughter from senator mcconnell. that's the kind of response it deserves. >> they are laughing in public, but they are panicking behind closed doors. conservative writer matt lewis, writer for "the daily caller", the notion that republicans have leverage is silly. it's the same kind of happy thinking that led to some boldly-predicting a romney victory. he said republicans are so screwed. this is why president obama is playing to his strengths. the president has never had a problem rallying the american people to h
instead of raising tax rates, we can produce a similar amount of revenue reforming the tax code to close loopholes and lower tax rates. >> no, no, no. republicans are not getting the mitt romney tax proposal. time to move on speaker boehner. republicans are furious about the white house proposal. mitch mcconnell told the weekly standard he burst into laughter when he received the deal. the new second ranking republican in the senate john cornyn also disparaged the deal. >> that's a...
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tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on some important decisions that will have a real impact on our businesses - and on families like yours. the most pressing decision has to do with your taxes. see, at the end of the year, middle-class tax cuts are set to expire. and there are two things that can happen. first, if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle class family of four will see their income taxes rise by $2,200. we can't let that happen. our families can't afford it, and neither can our economy. the second opt
tax policy. the tax cuts that will expire at the end of this year. then, senator orrin hatch from utah gives the republican address on the fiscal cliff which refers to automatic tax increases and spending cuts that would go into effect in 2013. >> hi, everybody. i'm here on the factory floor of a business in hatfield, pennsylvania, where folks are working around the clock making toys to keep up with the christmas rush. and i came here because, back in washington, the clock is ticking on...